EurUsd is looking increasingly ugly. Bears managed to decisevly break 1.1000 and this is opening big room for a move towards 1.0520, so that this Should - Head - Shoulder formation will close its body.
I am currently in a Sell EurAud Position, but i would also be looking for selling opportunities in EurUsd , because technically AND fundamentally this is a very clean picture, thats worth selling.
My view would be to aggressivley sell rallies towards 1.1000 with a tight stop at about 1.1050.
Bears should be strong enough to defend the psychological very important 1.10 handle, and price should not close anymore above it.
I would be targeting 1.0600/0550. So there would be a decent Risk/Reward ratio in this position, with a potential 400 pip profit.
As always play it smart, dont rush anything, use proper risk management and dont over leverage but build calm consistent profits.